Gary Alan Frank, who was charged last month in a massive loan fraud, made $168,333 in charitable donations to Philadelphia organizations in the two years before the January bankruptcy of his company, Legal Coverage Group Ltd., according to legal filings Tuesday.
The biggest beneficiary was the National Liberty Museum, which received $68,833. In addition, the Foreign Policy Research Institute got $55,000, the Philadelphia Orchestra $25,000, and the Philadelphia Youth Orchestra $18,500.
Federal agents arrested Frank on March 16 and charged him with wire fraud related to a $40 million line of credit Legal Coverage Group had received from Prudential Insurance Co. of America.
Legal Coverage Group claimed in a bankruptcy document that it had $378 million in revenue last year, $42 million in profit, and three million people enrolled in its legal services benefit program. The latest information from Leslie Beth Baskin, an attorney at Spector Gadon & Rosen who is trustee in the bankruptcy, shows that Legal Coverage Group had only $500,000 in revenue last year.